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Munich Re Group and UniCredit: Cooperation extended to CEE region



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    Munich Re, ERGO Insurance Group and Italian UniCredit have agreed to extend the existing cooperation in Germany, Austria and Poland to further growth markets in the Central and Eastern Europe (CEE) region.

    The focus of the cooperation is on developing the distribution of ERGO’s life and non-life insurance products through the branches of UniCredit subsidiaries operating in Romania, the Slovak Republic, Slovenia, Hungary, Russia and, to some extent, Poland where cooperation with Bank Pekao’s existing partner will continue. In the medium term, the same types of cooperation will also be extended to Serbia, the Ukraine, Bosnia and the Baltic States. In this context, ERGO will set up a centralised hub for the supply of cost-efficient and effective services to support local operations.

    With this agreement, which was approved by UniCredit’s Board of Directors yesterday, the two groups aim to implement a long-term partnership and create value for both parties, thus ensuring high quality standards for their clients.

    Münchener Rückversicherungs-Gesellschaft
    signed Dr. Schneider           signed Dr. Lawrence

    The Munich Re Group operates worldwide, turning risk into value. In the financial year 2006, it achieved a profit of €3,536m, the highest in its 126-year corporate history. Its premium income amounted to approximately €37bn and its investments to around €177bn. The Group is characterised by particularly pronounced diversification, client focus and earnings stability. It has approximately 37,000 employees at over 50 locations throughout the world and operates in all lines of insurance. With premium income of around €22bn in the year 2006 from reinsurance alone, it is one of the world's leading reinsurers. Its primary insurance operations are mainly concentrated in the ERGO Insurance Group; it is the second-largest provider in the German primary insurance market and a leading player in the European insurance market in health insurance and legal expenses cover. The ERGO Insurance Group is present in 25 countries, and 33 million clients place their trust in the services, competence and security it provides.
    This media information contains forward-looking statements that are based on current assumptions and forecasts of the management of Munich Re. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of Munich Re. The company assumes no liability to update these forward-looking statements or to make them conform to future events or developments.

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